Performance Returns

Average annual total return is a hypothetical rate of return that, if achieved annually, would have produced the same cumulative total return if performance had been constant over the entire period. Average annual total returns smooth out variation in performance; they are not the same as actual year-by-year results. Also, it is the average annual profit or loss realized by an investment at the end of a specified calendar period, stated as the percentage gained or lost per dollar invested.

As of 06/30/2015

Monthly

Quarterly

INVESTMENT AND BENCHMARKS

1 MONTH

3 MONTH

YTD

1 YEAR

3 YEAR

5 YEAR

10 YEAR

SINCEINCEPTION

2

QCSCRX

-1.86

-1.14

+0.66

+1.78

+9.98

+10.11

+6.01

+8.46

CREF Social Choice Account Composite Benchmark

-1.59

-0.53

+1.52

+3.54

+10.42

+10.83

+6.28

+8.59

Morningstar Moderate Allocation

-1.67

-0.53

+1.22

+2.06

+10.08

+10.38

+5.98

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The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units or shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance results would have been lower. Since Inception performance shown is cumulative for funds that have less than one year of performance history. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

As of April 24, 2015, additional classes of CREF Accounts are available with different eligibility requirements. Please visit the account’s prospectus at tiaa-cref.org for more information.

The risks that the account is subject to include the risk of socially screened investing, market risk, company risk, small-cap risk, income volatility risk, credit risk, interest-rate risk, prepayment risk, extension risk and foreign investment risks.

1The CREF Social Choice Account Composite Benchmark is a weighted average of three indexes: the Russell 3000® Index, which measures the performance of the broad U.S. stock market (42.0%); the Barclays U.S. Aggregate Bond Index, which measures the performance of the U.S. investment-grade, fixed-rate bond market (40.0%); and the MSCI EAFE+Canada Index, which measures stocks in 22 developed nations excluding the United States (18.0%). You cannot invest directly in any index. Index returns do not reflect a deduction for fees or expenses.
The Russell 3000 Index measures the performance of the stocks of the 3,000 largest publicly traded U.S. companies, based on market capitalization. The index measures the performance of about 98% of the total market capitalization of the publicly traded U.S. equity market. You cannot invest directly in any index. Index returns do not reflect a deduction for fees or expenses.

2To see the inception date for each account/fund, refer to the Profile tab.

TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Investment products, insurance and annuity products: are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

This website is directed only to institutional investors. Past performance is not indicative of future results. The information on this website should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons.